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tv   Asia Business Report  BBC News  February 13, 2024 2:30am-2:46am GMT

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at how capital. and we look at how unemployment is likely to impact voters in indonesia. police in delhi have imposed a month long ban on public gatherings ahead of a planned march on the indian capital on tuesday by thousands of farmers. farmers from more than 200 unions plan to converge on the city on tractors reminiscent of the protests in 2021. we now go to mumbai. memories still fresh from the protests in 2021. what the farmers want and how has the farmers want and how has the government responded? the government responded 7 essentially, the government responded? essentially, the farmers are demanding minimum support prices they get for their
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produce turned into legal guarantees. they want pensions for old age farmers. some 200 organisations have become part of these protests. 20,000 farmers expected to be mobilised as far as a way as the south. some farmers have been detained and not been allowed in the capital which has essentially completely beefed up security with cement blocks, barbed wire, to try and stop farmers from the northern states and punjab from trying to get in. we months ahead of
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the general election. and then there was a repealing of those contemptuous farm laws. union ministers and farmer organisations are still in talks although they haven't been any breakthroughs at the moment. . ~ been any breakthroughs at the moment. ., ~ , ., ., , moment. thank you for giving us that undate- _ let's start by talking about the bitcoin bounce. the world's largest cryptocurrency topped 50 thousand dollars for the first time in more than two years on monday ? the latest sign of a massive rebound for the crypto sector. so what s behind the rally? 0ur correspondent michelle fleury has more from new york. now, if you'd invested $1,000 in bitcoin at the start of the year, you'd have about $180 more than you started with. the flagship cryptocurrency has risen about 18% this year after reaching a milestone on monday that it hasn't seen since december 2021. one explanation is that you can now put money into bitcoin through your investment bank.
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us financial regulators recently approved the first exchange traded funds tied directly to the cryptocurrency. demand for these bitcoin funds, which began trading mid—january, has been robust. bitcoin has also benefited from expectations that the federal reserve will soon cut interest rates. investors believe the first rate cut in years could come as early as may. higher rates scare investors away from riskier investments like cryptocurrencies, so lower rates are seen as a positive. now, while investors are starting to look at cryptocurrencies as a legitimate asset class, many warn there are still very volatile. bitcoin is worth about $20,000 less than the record high the token hit back in 2021. staying with the us, former president donald trump has asked the supreme court to keep his criminal trial for trying to overturn the results of the 2020 elections on hold.
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mrtrump is campaigning to return to the white house this year as a potential republican candidate. one issue that's likely to rank high in terms of voter concerns is the country's relationship with china. president biden has been taking a tough stance, restricting chip technology exports including limiting trade on batteries for electric vehicles. and potential republican candidate donald trump has renewed threats of tariffs against china. during his years in office, he put around 250 billion dollars of tariffs on a wide range of products. for more, let s bring in amy celico, a former american diplomat and us china trade expert from albright stonebridge group. because 2023 was just such a tense year with us and china
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not talking on official levels in key areas and in competition. so, for example, with the united states and china restarting military to military talks it's not a sign of an improved relationship but both sides understand that these are very difficult issues and an accident could quickly escalate into a conflict if they can't prevent it so whether it's economic issues, military issues, transnational issues. the us and china are talking again but i'd hasten to add that the relationship isn't necessarily improving, it's just managing the tensions a little bit better than in 2023. in terms of results, what would china prefer under the circumstances? i think president trump in his re—election bid is focusing on punitive damage to the us china relationship and to shore up american interests so his
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talk of a 16% tariff hike is talk of a 60% tariff hike is meant to do what he has long wanted to do which is to reduce the trade deficit that the united states has with china. he is now talking about implementing a four—year national reassuring plan to reduce us reliance on china for so many different goods coming into the market. the biden administration is doing the same, increasing export control restrictions, limiting american technology exports to china and, so, for the chinese, i think they are very loathed to say who they'd prefer an office. what they continue to say is that they want the us—china relationship to remember some of the benefits of the economic relationship which is very
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difficult right now as the us looks at the national security consideration. it s a busy election year in many parts of the world. this week, on wednesday ? indonesia goes to polls to select its next political leader. millennials and gen zs make up more than half of the country s 205 million eligible voters. the number one concern for them ? jobs. my colleague steve lai sent this report from jakarta, ahead of the presidential election. walking around you can't help but notice the number of young people. nearly half the population is under the age of 30 but when it comes to employment younger job—seekers are struggling. for those under the age of 25 the unemployment rate is 19%. we need to seekjobs being created for the young labour force but what is more difficult is to prepare this young labour force to be able to respond to the new
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demand from the industry, from the economy. most of the labour force are not highly educated, or well trained. i'm on a busy part ofjakarta where students from the university of indonesia likes to hang out and they are lucky because they are getting a higher education. but what will the future hold when join the workforce ? i think the most important is a government that can support a young generation, gen z. every year, we have 1.5 million graduates and i don't understand how they can accommodate that. we are hoping theyj don't give us empty promises.
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as youths, we are going to the workforce to help the economy improved. one thing the government is keen to develop is electric vehicles and the market is showing signs of growth. charging stations like this are growing in number and the private sector is getting into the game too. a korean car—maker is already manufacturing cars here and while this investment creates jobs, there are questions about the ev supply chain. if we look at that area of investment, who other people working in the area? it's not the local people, it's the outsiders so we want to see family investment for local people.
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for indonesia's next president, the challenge is twofold, creating jobs not just for indonesia but enough to help the young people entering the workforce each year. thousands of drivers from food delivery platforms, including deliveroo and uber eats, are expected to go on strike across the us on valentine's day. they are demanding better pay and improved working conditions, according to driver's groups. there a variety of support. lee has created this garden. he
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spent decades addicted to alcohol which got him into serious trouble.— alcohol which got him into serious trouble. you can't live a normal _ serious trouble. you can't live a normal life _ serious trouble. you can't live a normal life on _ serious trouble. you can't live a normal life on the _ serious trouble. you can't live a normal life on the streets. l a normal life on the streets. fall into some sort of alcohol abuse. ., ., ., abuse. you will go into self-pity- _ abuse. you will go into self-pity. 130 - abuse. you will go into self-pity. 130 men - abuse. you will go into self-pity. 130 men andj abuse. you will go into - self-pity. 130 men and women self—pity. 130 men and women are being supported by the drug and alcohol treatment team here. paul is 35 years old. i split up with my partner. i ended up homeless for three months. i ended up homeless for three months. . , ended up homeless for three months. .,, , ., , months. i was hospitalised with pneumonia- _ months. i was hospitalised with pneumonia. if— months. i was hospitalised with pneumonia. if i _ months. i was hospitalised with pneumonia. if i hadn't - months. i was hospitalised with pneumonia. if i hadn't arrived l pneumonia. if i hadn't arrived here, i would pneumonia. if i hadn't arrived here, iwould probably pneumonia. if i hadn't arrived here, i would probably be dead. they are using all sorts of techniques to help people change their lives, including acupuncture, all under one
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roof. hey, i'm here with the catch up. tonight, the latest in the middle east. a young hero raising money for cancer and a carnival in rio. we start in the middle east where two israeli argentine hostages have been rescued in a raid in rafah. fernando and lewis are in good medical condition after being kidnapped on the 7th of october. the men were freed during israeli airstrikes in rafah in southern gaza. at least 70 palestinians were killed, meaning the total number of people to have died in gaza is more than 28,000 since the hamas attack on israel. some other stories... one in five migratory animal species faces extinction, a un report warns. basically, they play a very important role in protecting the earth's habitats by transferring nutrients. experts have begun
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meeting to sort a plan in response to this research. next to the arctic, where a boy who doctors thought might never walk has trekked the arctic to pay tribute to his dad, who died from bowel cancer two years ago. caden, who has cerebral palsy, experienced temperatures of below —29 degrees celsius. but his week—long challenge involved walking and fishing raised more than £3,000. big, big congratulations to caden. what an amazing achievement. we're going to leave you with 10 seconds of a carnival in rio with lots of performances celebrating the amazon rainforest and the indigenous communities in brazil. i mean, just look at those outfits, all the sparkles, all the lights, they are quite iconic. and you're all caught up now. see you later.
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hello there and welcome along to sportsday. chelsea leave it late, but come from behind to beat crystal palace as the pressure piles on their manager, roy hodgson. tragedy in kenya as the men's marathon world record
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holder kelvin kiptom, dies at the age of 24. and fernando alonso says his priority is with aston martin as the former f1 champion talks to the bbc on his future moves within the sports. hello there and welcome along to the program. we begin in the premier league where two goals from conor gallagher helped chelsea come from behind to beat struggling crystal palace 3—0 at selhurst park. mauricio pochettino's side couldn't muster a shot until the 45th minutes as palace looked to frustrate their opponents and pick up a much needed win to ease the pressure on manager roy hodgson. palace took the lead throuthefferson lerma, but chelsea continued to push. gallagher equalised and secured the win in stoppage time with a neat first time finish for his second before enzo fernandez added a third with seconds remaining.


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